Denver Investment Advisors LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 26,802 shares of the company’s stock after buying an additional 350 shares during the period. Denver Investment Advisors LLC’s holdings in Cardinal Health were worth $2,088,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in Cardinal Health during the first quarter valued at $120,000. JFS Wealth Advisors LLC boosted its position in Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after buying an additional 244 shares during the last quarter. Dupont Capital Management Corp purchased a new position in Cardinal Health during the second quarter valued at $164,000. Alpha Windward LLC boosted its position in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares during the last quarter. Finally, MCF Advisors LLC boosted its position in Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock valued at $202,000 after buying an additional 256 shares during the last quarter. 86.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cardinal Health, Inc. (NYSE CAH) opened at 66.01 on Thursday. The firm’s 50-day moving average is $74.55 and its 200 day moving average is $76.72. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $84.88. The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of 16.38 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same period in the previous year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts expect that Cardinal Health, Inc. will post $4.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.80%. Cardinal Health’s dividend payout ratio is presently 45.79%.
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CAH has been the topic of several research analyst reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $81.00 price target on shares of Cardinal Health in a report on Tuesday, May 2nd. Vetr raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price target on the stock in a report on Tuesday, June 13th. BidaskClub cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC began coverage on shares of Cardinal Health in a research report on Wednesday, May 17th. They issued a “hold” rating and a $77.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $80.46.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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